4.24 ETH Market Overview

I. Market Review

Last night, U.S. stocks opened lower and declined, triggering ETH to surge to 2338 before pulling back. This morning, it broke below key support, dropping to a low of 2298. Currently, it is in a weak correction after the decline, with the overall pattern showing a rise followed by a fall and a breakdown leading to weakness.

II. Trend Judgment

The most probable scenario today is sideways with weakness: breaking below previous support levels, moving averages turning downward, and rebounds being suppressed. The trend is likely to continue weak oscillation or further decline, making a strong rebound unlikely.

III. Key Levels

Support levels: 2298 (intraday low), 2283 (strong support, breaking below opens further downside space)

Resistance levels: 2320 (opening price, short-term resistance), 2338 (today’s high, strong resistance)

IV. Practical Entry Points and Position Management

Main trend: Short positions with high confidence → Entry zone 2315-2325 (during rebound resistance) → Above 2338 (break above high, abandon short positions) → Take profit targets: 1st: 2300-2305, 2nd: 2285-2290 → Position size: No more than 5% of total funds per trade, split into 2 batches.

Secondary trend: Aggressive low buy → Entry zone 2298-2303 (when bottoming and stabilizing) → Stop loss below 2283 (break below strong support, exit) → Take profit targets: 2315-2320 → Position size: Only up to 2%, light position for trial.

V. Position Management Discipline
1. Prioritize trend-following short positions; avoid blindly bottom-fishing; re-enter on rebound resistance.
2. After reaching the first take profit level, halve the position to lock in gains; use a trailing stop for the remaining position.
3. If volume breaks above 2338, trend reverses, and immediately stop loss on shorts; if it breaks below 2283, pause operations and observe.